I heard someone refer to Cuba as state capitalist.

When I hear the same thing said about China or the old USSR, I can usually tell when ‘state capitalism’ is being used in good faith or not.

But with Cuba, I don’t know enough.

My instinct, based on little knowledge, is that Cuba is not ‘state capitalist’.

Is it?

What kind of economy does Cuba have?

  • Muad'DibberA
    5•1 year ago

    The US embargo does really harm Cuba, but its not completely cut off from the world; they still export a lot of tobacco, sugar, and nickel . China, spain, venezuela, and russia are their main trade partners.

    They had to diversify their economy during the “special period”, a time of economic hardship when the USSR fell and they had to find new industries besides sugar, and new trade partners. But they came through it, and still have the highest standard of living in the Caribbean and most of Latin America.

    I’m not up to date on the currency stuff, but the US uses its dollar hegemony to wreak havoc on a ton of economies, and have a lot of time-tested currency manipulation strategies they employ against their enemies, especially against VZ rn.